President John Dramani Mahama has announced that the Ghana Government has secured US$2 billion to finance the construction of the Accra-Kumasi Expressway, assuring that funding will not become a major obstacle once the project moves into the construction phase.
President Mahama said the funds, sourced from Ghanaian taxpayers, have been placed in a dedicated account at the Bank of Ghana (BoG) to ensure that payments to the contractor can be made promptly throughout the project.
According to the President, the government intends to pay contractors’ certificates on time to prevent financial delays and ensure the Accra-Kumasi Expressway project progresses smoothly until completion.
$2 Billion Set Aside for Accra-Kumasi Expressway
President Mahama made the announcement on Monday, September 14, 2026, during the official handover ceremony for the 175.6-kilometre cleared right-of-way for the proposed expressway.
He stressed that the money being used to finance the project is Ghana’s own resources and was not obtained through external borrowing.
“This is our own money. We have not gone to borrow money from anywhere. This money is the taxpayers’ money,” President Mahama said.
The dedicated funding arrangement is expected to give contractors greater certainty and help prevent delays associated with late payments during the construction of the major road infrastructure project.
Government Says No Borrowing for Expressway
Finance Minister Dr Cassiel Ato Forson has also assured Ghanaians that the full funding required for the Accra-Kumasi Expressway will be available by December 31, 2026.
The government has maintained that it will not borrow money to finance the construction of the strategic highway.
The funding commitment forms part of efforts to ensure that the project, which is a major component of the government’s infrastructure agenda, can move forward without interruptions caused by financing challenges.
Ghana Armed Forces Engineers to Join Construction
President Mahama has further directed the Minister for Roads and Highways to ensure that the Ghana Armed Forces Engineers Regiment plays a significant role in the construction of the Accra-Kumasi Expressway.
The President wants the Engineers Regiment to be included as a major subcontractor to the main contractor.
The move is expected to strengthen local participation in the project while allowing Ghana’s military engineering personnel to contribute their expertise to one of the country’s largest road infrastructure projects.
The Engineers Regiment recently completed the clearing of approximately 175.6 kilometres of the project corridor, finishing the assignment ahead of the original schedule.
Accra-Kumasi Expressway to Boost Ghana’s Infrastructure
The Accra-Kumasi Expressway is expected to significantly improve transportation between Ghana’s two major economic centres.
The project is designed to reduce travel time, improve road safety, lower logistics costs and facilitate the movement of people, goods and services between the Greater Accra and Ashanti regions.
The highway is also expected to support economic growth, job creation, trade and Ghana’s 24-hour economy by improving connectivity between production centres and major markets.
With funding arrangements now being put in place, the government is seeking to ensure that the project receives the financial, technical and institutional support required for timely delivery.
Source: newsthemegh.com